Footwear group Stella International has reported its results for the full 2024 fiscal year, when revenue grew 3.5% to US$1.5 billion.
Credit: Stella Luna
In the full year, the company reported a shipment volume of 53 million pairs of footwear, up by 8.2%, while the average selling price (ASP) dropped 4.4% to US$28.40/pair.
In the last quarter of 2024, Stella achieved revenue of US$377.7 million, a decline of 0.7%, while shipment volume was up 3% to 13.6 million pairs and ASP dropped 3.1% to US$27.90/pair.
The company reports that it is ahead of schedule in meeting the targets of its Three-Year Plan (2023-25), which are to achieve an operating margin of 10% and a low-teens compound annualised growth rate on profit after tax by the end of 2025.
Chairman Lawrence Chen said: “We expect the looming changes to global trade tariffs will not have a material impact on our order book. This resilience is largely due to our diversified production base and the proactive measures taken earlier by most footwear brands to mitigate the impact of previous tariffs hikes. We remain confident in our ability to achieve the targets outlined in our Three-Year Plan (2023-25).”
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